Secure Credit Card Processing: Choose Your Service Provider Wisely

These days, e-commerce is on the rise and people are using different ways to provide their customers convenient and easy ways to shop. Credit card processing is the best way to take your online business forward. It not only helps your business to grow but also entice customers to buy products or services from your business.

If you want to expand your small business and aspire to become a business giant, it is crucial to find a trustworthy payment gateway for your credit card. If you fail to do online sales management, hit the brake and ask yourself – ‘What’s stopping to do it properly?’ May be you cannot manage your online sales because of the inefficiency of the service provider you have chosen. But, you still have time in your hand and it’s better to change your service provider before any mishap. When your service provider is genuine, it will ensure you secure credit card processing. All you have to do is to ask some simple questions while picking your service provider. Check out the questions you should ask.

What are their fees? The fees of the merchant services for website are inclusive of the application and set up fees, monthly statement fees, interchange fees, and early termination fee. Your service provider should clear all the doubts regarding the fees and check whether they have any hidden cost.

What are their types of accepted payment? If you are an owner of a retail business, you will want to ensure that your chosen payment processor accepts all kinds of cards such as Visa, MasterCard, etc so that none of your customer has to face any problem during the payment.

How long will they take to complete the entire process? Many service providers of online merchant accounts complete their job within a quick turnaround time. Ask them directly how long they will take for your account set up and for the installation of the equipment so that you can chalk out your plans. If you have selected the right service provider, they will assist you with patience in every step.

There are dozens of credit card processing companies, some of which includes major players. However, you have to be very critical while choosing your processor. Look for a company which provides solutions to low-risk and high-risk merchants. Moreover, companies that provides onshore and well as offshore services can be a good option to make a choice.

How to Select a Secure Payment Gateway

Accept All Major Credit Cards and Electronic Checks for your Online Business, Retail Store and Mobile Sales Force using a Single Payment Gateway Service

A real-time payment gateway service provides merchants with a secure method for accepting credit card and electronic check payments. A secure online point-of-sale service allows the merchant to capture customer credit card or checking account information then transmits that information over an encrypted SSL connection. Successful transactions will move the customer payment from the customer’s credit card or checking account to the merchant’s business bank account.

The top rated real-time payment gateway services can be used to process retail, mobile and online customer sales. As a merchant you want to select a virtual point-of-sale service that can support your business as it grows. Therefore, you want to select a payment gateway service that can support multiple sales environments (e.g. retail, online and mobile) without requiring you to open multiple gateway accounts.

Since there are a multitude of real-time payment gateways to choose from I have provided a checklist to help you select the right service for your business. Ultimately, you must select a service that meets the unique requirements of your specific business.

Merchant checklist for choosing a payment service (e.g. features must be included at no additional cost):

o Real-time sales reporting

o Virtual Terminal/Batch Uploads for processing manual transactions

o Virtual POS for processing card present transactions

o Recurring Billing capabilities for processing membership and subscription services

o Integration Method for integrating payment processing into your back office software

o Online knowledgebase

o Online Help Desk

o “Live” Technical Support

o Load-balancing for processing multiple merchant accounts using a single payment gateway account. This will become an important feature as your business grows.

o Commercial and Open Source Shopping Cart Payment Modules

o Secure Online Merchant Interface

o Address Verification (AVS)

o Retail POS software support

o CRM Payment Modules (open source and commercial software support)

o PCI Compliant service

Optionally, you should be able to select the following add-on services:

o Electronic Checks processing

o Advanced Fraud Protection Tools

o PCI Compliant Data Storage and Retention for storing customer payment data

o Mobile Payment Software (e.g. iPhone)

Always keep in mind, when you choose a payment service you are selecting a service to process your customer payments which is the lifeline of your business.